Interviews
FTP continues to draw mainly negative reactions
07 Apr '15
3 min read
Goel said the problem of finance is acute for the garment export and interest subvention is the only effective way to soften the adverse impact of high interest rate and should therefore be extended at least for the next three years.
While garment exporters are sore with the new FTP, shoes and apparel major Woodland feels the policy is just what is needed to boost the economy.
Woodland’s managing director Harkirat Singh described it as a visionary policy which it is a positive, industry-friendly and forward-looking policy that is expected to aggressively push the government’s ‘Make in India’ vision.
“The new foreign Trade policy is expected to boost the country’s manufacturing sector tremendously. The reduction in export obligation by 25 per cent would encourage machinery import, critical for the growth of leather and the manufacturing sector in general. The focus of the foreign trade policy is to support services and exports along with improving the ease of doing business,” he said.
Fibre2fashion News Desk - India
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